Linux:

 

@eracode Do you live close to Milford? You are more than welcome to pop over and have a look over everything

 

Will even show you my personal bank account balance and this is money I have saved not related to the gift

 

John

 

Is that offer open to anyone?

cisconz:

 

Linux:

 

@eracode Do you live close to Milford? You are more than welcome to pop over and have a look over everything

 

Will even show you my personal bank account balance and this is money I have saved not related to the gift

 

John

 

 

Is that offer open to anyone?

 

Let's make it a Geekzone party at Milford beach 

John

Linux:

 

eracode:

 

As I said earlier, I can't help thinking there's more to this than meets the eye - or something we are not aware of - perhaps in the background somewhere.

 

On bare facts it doesn't add up.

 

 

@eracode Do you live close to Milford? You are more than welcome to pop over and have a look over everything

 

Will even show you my personal bank account balance and this is my money I have saved not related to the gift

 

John

 

Maybe that should have been PM'ed - I'll PM you.

Cheers

Linux:

eracode:

As I said earlier, I can't help thinking there's more to this than meets the eye - or something we are not aware of - perhaps in the background somewhere.

On bare facts it doesn't add up.

@eracode Do you live close to Milford? You are more than welcome to pop over and have a look over everything

Will even show you my personal bank account balance and this is my money I have saved not related to the gift

John

Moved banks this morning and they are processing the home loan now

John

Does the  RBNZ rules include that banks are limited to x amount of loans, in order to preserve a set minimum level of loans to assets, or loans to liquid funds?

tdgeek:

 

Does the  RBNZ rules include that banks are limited to x amount of loans, in order to preserve a set minimum level of loans to assets, or loans to liquid funds?

 

Yes, there are reserve ratios set by the RBNZ as part of the fractional reserve lending banking system we (and many other countries) operate.

ajobbins:

 

tdgeek:

 

Does the  RBNZ rules include that banks are limited to x amount of loans, in order to preserve a set minimum level of loans to assets, or loans to liquid funds?

 

 

Yes, there are reserve ratios set by the RBNZ as part of the fractional reserve lending banking system we (and many other countries) operate.

 

Thanks, I believed that was the case. Might be possible that Johns loan, while normal, became low priority if the bank is running close to its level, and would rather loan to first goes buyers or live in home buyers than investors at the moment? It seems there is no issue with the gift or the deposit, even though they mentioned the gift. 

tdgeek:

 

Thanks, I believed that was the case. Might be possible that Johns loan, while normal, became low priority if the bank is running close to its level, and would rather loan to first goes buyers or live in home buyers than investors at the moment? It seems there is no issue with the gift or the deposit, even though they mentioned the gift. 

 

Another possibility is that they simply didn't want to lend to him as it wasn't worth their while. High deposit means smaller loan which means lower profit. Too small, and banks lose interest (pun intended).

A small loan coupled with the complexity of the gifting situation may have landed the application in the 'not worth our while' pile.

Linux:

Moved banks this morning and they are processing the home loan now

John

ajobbins:

tdgeek:

Thanks, I believed that was the case. Might be possible that Johns loan, while normal, became low priority if the bank is running close to its level, and would rather loan to first goes buyers or live in home buyers than investors at the moment? It seems there is no issue with the gift or the deposit, even though they mentioned the gift. 

Another possibility is that they simply didn't want to lend to him as it wasn't worth their while. High deposit means smaller loan which means lower profit. Too small, and banks lose interest (pun intended).

A small loan coupled with the complexity of the gifting situation may have landed the application in the 'not worth our while' pile.

I'm hoping the next post in this thread from John is "I got my loan approved! :)" because that would be awesome after going through all of this rigmarole.

Could be worth the OP contacting the ombudsman to look into it, so others don't also get effected. Although it is probably not worth the effort if they can get the loan with another bank, and life is too short. 

mattwnz:

 

Could be worth the OP contacting the ombudsman to look into it, so others don't also get effected. Although it is probably not worth the effort if they can get the loan with another bank, and life is too short. 

 

I agree

I could not care less what the reason is but we want to KNOW what it was.

Mistake, reaching our lending limit, more money from other loans elsewhere, etc